august. now, as you can see, that is a decrease from the month prior. while it may sound like good news, it's really not. 96,000 non-farm jobs were added last month, 360,000 people dropped out of the workforce, giving us to have given up looking for work altogether, and this is where it gets worse. according to the bureau of labor statistics, the june jobs number has been revised down to 45,000, 45,000 new jobs added. for the same month the usda says more than 173,000 people went on food stamps. so to put it all into perspective for you, according to latest numbers, four times as many people got government help than went out and got a job. that is the 4-1 figure i was talking about. despite all that evidence, the white house says this jobs number is assigned our economy is improving. is it? joining us now, moody's chief economist. paul conway, former chief of staff for the u.s. support of labor. i want to start with you.